Beijing casts a shadow over Macau

• A top lawmaker in China issued a warning to Macau about the region's heavy reliance on casino revenue.
• The shot comes just ahead of a visit by Chinese President Xi Jinping.
• An extended crackdown by Beijing on corruption (VIP segment) and visa restrictions (mass market segment) has cut into the explosive growth rates that casino operators in the region enjoyed over the last several years.
• Macau-related stocks: MPEL, MGM, WYNN, LVS, OTCPK:GXYEF, OTCPK:SJMHF.